Pasargad Oil Company
Pasargad Oil Company is Iran's largest bitumen producer, operating six refineries with over 4 million tons of annual capacity and 50% domestic market share, supplying road construction, government infrastructure, and international export markets.
- Company typePublic
- Founded2003
- HeadquartersTehran, Iran
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Pasargad Oil Company does
Pasargad Oil Company (شرکت نفت پاسارگاد) is Iran's largest bitumen producer and the claimed largest in the Middle East, founded in 2003 (1382 Iranian calendar) and headquartered in Tehran. The company operates six bitumen production units co-located with major Iranian refineries in Tehran, Arak, Abadan, Tabriz, Shiraz, and Bandar Abbas, with a combined annual production capacity exceeding 4 million tons and more than 50% of the domestic Iranian bitumen market. Its product portfolio spans five standard bitumen grades (penetrating grade, viscosity-graded, functional, soluble/cutback, and emulsion) plus four innovative specialty products (polymer-modified bitumen, PG PLUS performance-graded bitumen, colored bitumen, and nano-technology enhanced bitumen), offered in barrel, bitoplast, and jumbo bag packaging. Distribution runs through the Iran Commodity Exchange for domestic sales and through two dedicated export terminals (Shahid Rajaei in Bandar Abbas and Bandar Imam Khomeini in Mahshahr) for international shipments under FOB and EXW terms.
Pasargad Oil Company firmographics
Firmographics- Name
- Pasargad Oil Company
- Legal name
- Pasargad Oil Company (شرکت نفت پاسارگاد)
- Website
- https://pasargadoil.com
- Company type
- Public
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Pasargad Oil Company is Iran's largest bitumen producer, operating six refineries with over 4 million tons of annual capacity and 50% domestic market share, supplying road construction, government infrastructure, and international export markets.
- Ownership category
- akta.pro rank
Pasargad Oil Company industry classification
Industry- Product category
- Bitumen and Petroleum Products Manufacturing
- NAICS
- Petroleum Refineries (324110), All Other Petroleum and Coal Products Manufacturing (324199), Petroleum and Coal Products Manufacturing (3241)
- SIC
- Petroleum Refining (2911), Miscellaneous Products Of Petroleum & Coal (2990)
- akta.pro primary industry
- Asphalt Additives & Performance Enhancers (Anti-strip, Warm-mix, Fibers, Rejuvenators) (EUALAKAH)
- akta.pro secondary industries
- Cutback Asphalt & Flux Oils (Rapid/Medium/Slow-Curing) (EUALAKAC), Bitumen Logistics & Terminals (Bulk Storage, Heating, Packaging, ISO Tanks) (EUALAKAI), Oxidized/Blown Bitumen (Industrial Grades) (EUALAKAE)
Keywords
Where Pasargad Oil Company is headquartered
LocationHeadquarters
- HQ city
- Tehran
- HQ country
- Iran
- HQ region
- Middle East
Offices9 records
Markets served
Pasargad Oil Company business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Bitumen Production and Sales: Core business of producing and selling various types of bitumen including penetrating grade, VG, functional, soluble, and emulsion bitumen. Products sold domestically through commodity exchange and directly for export.
- Export Sales (USD-denominated): First successful USD-denominated export transaction conducted through Iran Commodity Exchange, marking a milestone in international trade capabilities.
- Subsidiary Operations: Revenue from subsidiary companies producing bitumen products including Hormoz Pasargad Bitumen Products and Soroush Pasargad Bitumen Products.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
Pasargad Oil Company product offering
Product offeringCore offering
Pasargad Oil Company manufactures and supplies bitumen products (penetrating grade, VG, functional, soluble, emulsion, and innovative grades including polymer-modified, PG PLUS, colored, and nano-technology bitumen) from six production complexes across Iran. With combined annual capacity exceeding 4 million tons, the company serves Iran's road construction and infrastructure sectors domestically through the Iran Commodity Exchange, and exports internationally through dedicated port terminals at Shahid Rajaee and Bandar Emam Khomeini.
Product overview
Pasargad Oil Company operates a comprehensive bitumen production and supply platform across Iran. The company manages six manufacturing complexes (Tehran, Arak, Abadan, Tabriz, Shiraz, and Bandar Abbas) with a combined annual production capacity exceeding 4 million tons, and two dedicated export terminals (Shahid Rajaee and Bandar Emam Khomeini). The core product portfolio includes five standard bitumen types (penetrating grade, VG viscosity grade, functional, soluble, and emulsion), complemented by four innovative products (polymer-modified bitumen, PG PLUS, colored bitumen, and nano-technology enhanced bitumen). Products are available in three packaging formats (barrels, bitoplast, and jumbo bags) with FOB and EXW delivery options. Two subsidiaries produce specialized bitumen derivative products.
Differentiator
Problem solved
Functional benefit
Products and services
- Penetrating Grade Bitumen (نفوذی) Standard penetrating grade bitumen for road construction and industrial applications, serving domestic infrastructure and road-building projects.
- VG Bitumens (Viscosity Grade) Viscosity-graded bitumen meeting international specifications for highway and airport paving, supplied to road construction and infrastructure contractors.
- Functional Bitumens (عملکردی) Performance-oriented bitumen products designed for specific functional requirements in road and infrastructure applications.
- Soluble Bitumen (محلول) Soluble/cutback bitumen for cold-weather applications and surface treatments, used in road maintenance operations.
- Emulsion Bitumens (امولسیون) Bitumen emulsion products for road maintenance and environmentally friendly applications, supplied to road contractors.
- Polymer-Modified Bitumen (قیر پلیمری) Polymer-modified bitumen with enhanced elasticity and temperature resistance for high-performance road surfaces, supplied for premium infrastructure projects.
- PG PLUS Bitumen Advanced performance-graded bitumen with superior rutting and cracking resistance, designed for high-stress pavement applications.
- Colored Bitumen (قیر رنگی) Pigmented bitumen for colored asphalt surfaces in decorative and functional applications such as bus lanes, cycle paths, and urban beautification projects.
- Nano-Technology Bitumen (نانو تکنولوژی) Nano-enhanced bitumen products with improved durability and aging resistance for long-life pavement applications.
Companies that use Pasargad Oil Company
Customer profileSegments3 records
Ideal customer profiles3 records
Pasargad Oil Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Pasargad Oil Company partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Keshtzar Sadr (کشتیسازی صدرا)coreMoU signed for cooperation in shipbuilding with diverse capacities to expand bitumen export infrastructure through combined facilities. This partnership aims to strengthen the bitumen value chain and enhance Iran's position in global bitumen trade.
- Innovation Park of Oil and Gas Industry (پارک نوآوری و فناوری صنعت نفت و گاز)coreTripartite cooperation with Pasargad Oil and Petrofarzan Apadana knowledge-based company to utilize technological capabilities for supplying process equipment needed in Pasargad's production complexes.
- Petrofarzan Apadana (پتروفرزان آپادانا)coreKnowledge-based company partnership for supplying process equipment required in Pasargad's manufacturing complexes, supporting domestic technology ecosystem.
- Paya Tabar Transit Sina Holding (هلدینگ پایا ترابر سینا)coreMoU for joint investment and cooperation in transportation management, port operations, and logistics for petroleum products. Focus on joint infrastructure development, fleet supply, and domestic/international logistics management.
- International Bitumen IndustryminorAttendance at 7th Bitumen and Base Oil Conference for Asia, Middle East and Africa in Mumbai, India as the largest bitumen producer in the Middle East.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Pasargad Oil Company competitors and assessment
Company assessmentDirect peers
- Tipco Asphalt Public Company Limited: Tipco Asphalt is a Thailand-based bitumen and asphalt products manufacturer and direct peer, with comparable penetration-grade, cutback, emulsion, and polymer-modified bitumen offerings serving the same road construction customer base across Asian and Middle Eastern markets.
- Nynas AB: Nynas is a global specialty bitumen producer and a direct peer, competing in polymer-modified bitumen and specialty grades for road construction. Both companies operate in the same product category (bitumen/asphalt) with similar customer base (road infrastructure) and compete for the same specialty bitumen export markets.
Regional players
- Bharat Petroleum Corporation Limited: Bharat Petroleum operates refineries in India and produces bitumen for the road construction sector. It is a regional player in the same product category with overlapping distribution into the Indian road paving market where Pasargad exports.
- Hellenic Petroleum (HELLENiQ ENERGY): HELLENiQ ENERGY operates refineries in Greece producing bitumen for road construction and industrial applications. As a regional Mediterranean player, it competes with Pasargad in European and Mediterranean bitumen export channels that Pasargad may attempt to access.
- Indian Oil Corporation Limited: Indian Oil is India's largest petroleum refining and marketing company with a significant bitumen division serving domestic and regional road construction. As a regional player, it competes with Pasargad in the Indian bitumen import market and represents both a competitor and potential customer relationship.
- Tupras (Türkiye Petrol Rafinerileri A.Ş.): Tupras is Turkey's largest refinery operator producing bitumen and other petroleum products. As a regional player with comparable refining scale, it competes with Pasargad in Mediterranean and Middle Eastern bitumen markets without the sanctions constraints.
Others
- Petrofac Limited: Petrofac provides oilfield services, engineering, and infrastructure support to the energy industry. It is an ecosystem participant that supplies services and equipment to bitumen producers like Pasargad and operates in the broader Middle East oil and gas value chain relevant to Pasargad's operations.
Broad incumbents
- Shell Bitumen (Shell plc): Shell operates one of the world's largest bitumen businesses as part of its integrated downstream portfolio. It is a broad incumbent that produces standard and polymer-modified bitumen globally and competes for the same road construction and specialty paving customers Pasargad targets in export markets.
- TotalEnergies Bitumen: TotalEnergies produces and sells a comprehensive bitumen product portfolio as part of its broader refining and marketing operations. It is a broad incumbent in the same product category with overlapping specialty and standard grade offerings in international markets.
- Marathon Petroleum Corporation: Marathon Petroleum is one of the largest US refiners producing asphalt and other petroleum products. As a broad incumbent, it operates at much greater scale and competes in international asphalt markets where Pasargad seeks to expand its specialty exports.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Pasargad Oil Company social profiles
Digital presencePasargad Oil Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pasargad Oil Company leadership team
Management profileNumber of profiles
Profiles3 records
Pasargad Oil Company subsidiaries and ownership
Company hierarchySubsidiaries2 records
Pasargad Oil Company funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pasargad Oil Company M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pasargad Oil Company
What does Pasargad Oil Company do?
Pasargad Oil Company manufactures and supplies bitumen products (penetrating grade, VG, functional, soluble, emulsion, and innovative grades including polymer-modified, PG PLUS, colored, and nano-technology bitumen) from six production complexes across Iran. With combined annual capacity exceeding 4 million tons, the company serves Iran's road construction and infrastructure sectors domestically through the Iran Commodity Exchange, and exports internationally through dedicated port terminals at Shahid Rajaee and Bandar Emam Khomeini.
Is Pasargad Oil Company a public or private company?
Pasargad Oil Company is a public company. It is classified as public and is currently operating.
When was Pasargad Oil Company founded?
Pasargad Oil Company was founded in 2003. It employs 1,001 to 5,000 people.
Where is Pasargad Oil Company based?
Pasargad Oil Company is headquartered in Tehran, Iran, in the Middle East region.
How does Pasargad Oil Company make money?
Three revenue lines are on record. Bitumen Production and Sales are the primary driver. The others are export Sales (USD-denominated) and subsidiary Operations.
Who are Pasargad Oil Company's main competitors?
Direct peers on record are Tipco Asphalt Public Company Limited and Nynas AB. Regional players are Bharat Petroleum Corporation Limited, Hellenic Petroleum (HELLENiQ ENERGY), Indian Oil Corporation Limited and Tupras (Türkiye Petrol Rafinerileri A.Ş.). Petrofac Limited is listed as an others. Broad incumbents are Shell Bitumen (Shell plc), TotalEnergies Bitumen and Marathon Petroleum Corporation.
Does Pasargad Oil Company have an API?
No public API is recorded for Pasargad Oil Company.
What industry is Pasargad Oil Company in?
Pasargad Oil Company's product category is Bitumen and Petroleum Products Manufacturing. Its primary akta.pro industry code is EUALAKAH, Asphalt Additives & Performance Enhancers (Anti-strip, Warm-mix, Fibers, Rejuvenators), with a secondary code of EUALAKAC, Cutback Asphalt & Flux Oils (Rapid/Medium/Slow-Curing). Its NAICS code is 324110 and its SIC code is 2911.